Bill Text: TX HB3704 | 2011-2012 | 82nd Legislature | Comm Sub
Bill Title: Relating to the taxation of political subdivisions of the state.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2011-05-09 - Committee report sent to Calendars [HB3704 Detail]
Download: Texas-2011-HB3704-Comm_Sub.html
| By: Brown | H.B. No. 3704 | |
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| relating to the taxation of political subdivisions of the state. | ||
| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. Section 11.1825, Tax Code, is amended by adding | ||
| Subsection (z) to read as follows: | ||
| (z)(1) A community housing development organization | ||
| entitled to an exemption from taxation under this section is also | ||
| entitled to an exemption from taxation of the buildings and other | ||
| real and tangible personal property that are owned by the | ||
| organization, and except as provided by Subsection (z)(2) are used | ||
| exclusively by the organization in the administration of its | ||
| acquisition, building, repair, sale, or rental of property, or by | ||
| political subdivisions of the state that: | ||
| (a) are eligible for an exemption from taxation under | ||
| Chapter 11 of this code, and | ||
| (b) are exempt from federal income taxes or have their | ||
| revenue exempted from federal income taxes under Section 115 of the | ||
| Internal Revenue Code. | ||
| (2) Use of property exempt by reason of this subsection by | ||
| persons not qualifying under (z)(1) above does not result in the | ||
| loss of an exemption authorized by this Subsection (z) if such use | ||
| is incidental to or furthers the exempt purposes of the owner or an | ||
| organization qualified under (1)(a) and (b) above. | ||
| SECTION 2. This Act takes effect September 1, 2011. | ||
